What Happens if You Get Audited by the IRS?


by Anna Kuehl on February 05, 2019  0 Comment

What Happens if You Get Audited by the IRS?
You can complete most audits by mail, but some require in-person interviews. An IRS tax audit can involve several years of tax returns. Ignoring an IRS audit can lead to substantial charges and penalties. If the idea of getting audited by the Internal Revenue Service (IRS) makes your heart race or your brow sweat, you might be surprised to learn that this process isn't usually as scary as it seems. You can respond to the majority of IRS audits by answering a few simple, straightforward questions. Find out what happens if you get audited by the IRS and how to make the process go as smoothly as possible. You May Have Been Randomly Selected When you receive an audit notice ...

What Is an Audit?


by Andrea Miller on October 24, 2018  0 Comment

What Is an Audit?
An audit is an examination of financial records to make sure they are accurate and follow best practices, including an IRS audit. During the audit, a certified public accountant (CPA) will review records to detect errors or fraud while following established auditing standards of the profession. You have the right to have professional representation if you are being audited by the IRS. Although the term audit is most often used when referring to the IRS, in more basic terms, an audit is the process of examining the financial records of a person or business to make sure they are accurate and in accordance with industry best practices. A company may employ internal auditors who are responsible to make recommendations for ...

The Smartest Ways to Handle an IRS Audit


by Trung Tran on October 24, 2018  0 Comment

An IRS audit is stressful, but there's a silver lining. In most cases, an audit by the IRS should not worry you, because it doesn't necessarily mean you're in trouble. In many cases, the IRS has a few questions, and a few simple answers will suffice. We're here to help with your tax audit. This article will explore the kinds of audits you might face, as well as the best ways to handle them. An Audit Does Not Mean You Are Guilty  Receiving a letter from the IRS does not indicate that you are guilty of tax evasion or any other crime. There are many outcomes to an audit. Yes, you may owe additional taxes, but that is just one ...

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